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Home  News and Articles Motorcycles You Can Save Lots On Motorcycle Insurance -- Here's The Secret
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You Can Save Lots On Motorcycle Insurance -- Here's The Secret |
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Written by DanDanmenn
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Sunday, 25 October 2009 |
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If you are in the market for motorcycle insurance here are four ways you can save a significant amount of money when you talk to your insurance agent or company. Learning to think like an insurance company you can do nice things for your pocketbook.
by DanDanmenn
If you are in the market for motorcycle insurance here are four ways you can save a significant amount of money when you talk to your insurance agent or company. Learning to think like an insurance company you can do nice things for your pocketbook.
1. Driver age and experience -- your age and driving experience is already set. But be aware that younger and less experienced drivers inevitably pay more for their insurance. Driving experience includes your accident and claims records. Fewer accidents and fewer claims mean lower insurance costs. This is one area you do have control over as time goes on.
Education can also help. Many insurance companies will give credit for the completion of a motorcycle safety class. Drivers of any age can take advantage of this and lower their insurance bill.
2. Bike age, cost and modifications -- Of course the more expensive the bike and more risk to the insurance company and the higher the cost of the insurance. Especially if you make modifications to the bike, insurance costs can skyrocket. That's because the cost of replacing those modifications is often high.
First-time biker's and younger bikers might consider buying an older bike with a smaller engine. Not only will the cost of insurance go down because of the lower replacement cost, but accident risk also decreases with smaller and less powerful engines. If you buy a souped-up racing bike expect the insurance company to charge you souped-up rates.
3. Storage and security -- store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.
Similarly if you have an immobilizing device or other security device like LoJack on your bike you will score points with your insurance company. You can purchase and install an effective bike immobilizer device for less than $100.
4. Driver and passenger safety -- Get insurance discounts for wearing the right safety equipment. Of course a helmet is a must, but some companies may give you discounts for other types of equipment and devices. Check with them.
Insuring extra passengers is expensive. So you can save money if you ride solo, or only carry passengers infrequently. Make sure your passengers have the same coverage as you and also wear safety equipment. The majority of lawsuits for biker accidents actually come from their passengers.
Once you have bought your bike a number of these factors are pretty much locked in. So it's worth your while to think about this before you buy and or when you are changing bikes. You can save yourself a lot of money in your insurance bill if you take these factors into consideration.
About the Author:
Dan Danmenn enjoys writing informative reports and internet sites for motor-bikers on how to save money on insurance. If you found this article useful you might also enjoy his newest website Motorcycle-Insurance-Quotes.org where you can learn more about buying Cheap Motorcycle Insurance
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